Farid, a burgeoning edtech startup based in Egypt, has successfully raised $250,000 in pre-seed funding from Amal bint Abdulaziz Al-Ajlan, a prominent Saudi entrepreneur. This investment marks a significant milestone for Farid, enabling the startup to expand its educational offerings and enter international markets, particularly in Saudi Arabia and the United Arab Emirates. The funding follows several strategic partnerships with educational institutions in Egypt.
Strategic Goals and Expansion Plans
With a vision to scale its impact, Farid aims to acquire 20,000 new subscribers within the next two years. The company also plans to train 10,000 graduates to become certified trainers in Farid’s educational approach by 2030. This ambitious goal reflects Farid’s commitment to enriching its educational content and enhancing children’s mental health through workshops and new curricula. The startup’s overarching mission is to empower youth to face future challenges with confidence and resilience.
Mahmoud Hussein, founder and CEO of Farid, detailed how the funds will be utilized. The investment will support platform expansion, the development of innovative training materials, recruitment of additional staff and trainers, and the establishment of a presence in Saudi Arabia and the UAE. Farid also plans to build partnerships with schools and universities to broaden its reach and amplify its impact.
Establishing a Strong Market Presence
Founded in 2024 by Mahmoud Hussein, Farid has quickly emerged as a key player in the MENA region’s edtech sector. The startup focuses on providing cutting-edge educational solutions that prioritize the well-being and personal development of children and adolescents aged 3 to 18. Farid employs modern educational methods to foster both personal and psychological growth.
In addition to its core offerings, Farid provides specialized training programs for young adults and graduates, preparing them to become certified practitioners of Farid’s unique educational and psychological techniques.
Investment Appeal and Market Potential
Hussein highlighted the significance of educational innovation as a major factor in attracting investment. Farid’s unique methodology and the growing regional demand for personal skills and self-improvement make it an attractive investment opportunity. The company is strategically positioned to capitalize on the lucrative Gulf markets.
The edtech sector in Egypt is experiencing rapid growth, with projections indicating it will reach $5.5 billion by 2028, up from $2.5 billion in 2022. Farid’s competitors, such as iSchool and Sprints, have also recently secured investments, with Sprints expanding into 10 new markets and empowering over 200,000 learners with essential skills for the tech industry.
With its new funding and strategic plans, Farid is set to make a significant impact on the education sector, fostering the development and well-being of children across the region.